Bitcoin ETF Saga Continues: SEC To Review NYSE & Bitwise’s Application

Bitcoin ETF Rule Change Under Review What a week it’s been for the Bitcoin exchange-traded fund (ETF) space. In a matter of a few days, the hopefuls behind applications for such vehicles have been put through a rollercoaster of emotions. After what the U.S. Securities and Exchange Commission (SEC) politely requested Reality Shares, a crypto-centric investment services group based in California, to pull its application due to an array of rules and the product’s unique nature, the same regulator made a surprise comment. According to a document obtained by CoinDesk, the American…

Bitcoin ETF Saga Continues: SEC To Review NYSE & Bitwise’s Application

Bitcoin ETF Rule Change Under Review What a week it’s been for the Bitcoin exchange-traded fund (ETF) space. In a matter of a few days, the hopefuls behind applications for such vehicles have been put through a rollercoaster of emotions. After what the U.S. Securities and Exchange Commission (SEC) politely requested Reality Shares, a crypto-centric investment services group based in California, to pull its application due to an array of rules and the product’s unique nature, the same regulator made a surprise comment. According to a document obtained by CoinDesk, the American…

SEC Starts Review of NYSE Arca’s Bitcoin ETF Rule Change Proposal

The United States Securities and Exchange Commission (SEC) started reviewing a rule change proposal for NYSE Arca’s Bitcoin (BTC) exchange-traded fund (ETF) on Feb. 11, according to an official document published today, Feb. 15. According to the notice, the NYSE Arca exchange filed a rule change proposal to list and trade shares of the Bitwise Bitcoin ETF Trust under its NYSE Arca Rule 8.201-E on Jan. 28. The SEC is now expected to provide an initial decision to approve or reject the proposal within 45 days starting from the day…

NYSE Parent ICE Anticipates Over $20 Million Spend on Bakkt This Year

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, estimates it will spend more than $20 million this year in building Bakkt, its bitcoin futures trading and custody platform. In an earnings call for Q4, 2018, on Feb. 7, Scott Hill, ICE’s chief financial officer, said the firm’s investment in Bakkt will result in $20 million to $25 million of its estimated expenses for the fiscal year 2019. The estimation comes just six weeks after Bakkt announced a massive $182 million fundraise for its bid to roll…

NYSE Operator’s Crypto Platform Bakkt Finalizes Its First Acquisition

Bakkt, the much-anticipated digital assets platform operated by the Intercontinental Exchange (ICE), has closed its first acquisition, a tweet from the company revealed Feb. 8. The move marks the finalization of an acquisition of assets in futures commission merchant Rosenthal Collins Group (RCG). “With today’s closing of our transaction with Rosenthal Collins Group, we welcome great new team members to Bakkt,” the statement reads. By acquiring certain assets in the company, Bakkt said it hopes: “RCG’s remarkable heritage, culture and expertise will help us build out a trusted institutional infrastructure…

NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors

The Intercontinental Exchange (ICE) has partnered with major global blockchain firm Blockstream to launch its Cryptocurrency Data Feed product, as ICE Data Services tweeted on Jan. 24. Founded in 2000 in the United States, the Intercontinental Exchange is a global company that owns exchanges for financial commodity markets and operates 23 global exchanges, including the New York Stock Exchange (NYSE). According to the announcement, ICE’s new crypto data service enables real-time and historical data for more than 60 cryptocurrencies from major trading markets and exchanges worldwide. Blockstream has introduced the…

NYSE Arca Files a Request to Rule Changes Seeking for Bitwise Bitcoin ETF Approval

Earlier this month, Bitwise Asset Management applied for Bitcoin ETF which will be listed on NYSE Arca. The Bitwise Bitcoin ETF will be backed by physically held Bitcoin tokens. NYSE Arca has now completed the official paperwork for the 19b-4 rule change and is now available on the official NYSE website. The newly filed Bitcoin ETF application by Bitwise will rely on regulated third-party custodians to hold its physical Bitcoin. Additionally, Bitwise clarified that it would draw a large amount of data from a number of crypto trading platforms, including both…

NYSE Arca and Bitwise Apply for Bitcoin ETF Approval

Despite the constant delays and obstacles imposed by regulatory bodies, especially by the United States Securities and Exchange Commission, the crypto market refuses to succumb, and new players are always interested in trying their luck by applying for a Bitcoin ETF Approval. The last application for a Bitcoin ETF comes from Bitwise Asset Management and NYSE Arca. The features of the application were recently disclosed affiliate sparking good expectations. When Bitwise and NYSE announced their intentions to launch a Bitcoin ETF, the news had little impact, the bad aftertaste left…

NYSE Operator’s Long-Awaited Crypto Platform Bakkt Announces New Key Vacancies

Bakkt, the cryptocurrency platform created by the operator of the New York Stock Exchange (NYSE), announced that they are hiring for a number of high-up positions in a tweet Jan. 22. The Intercontinental Exchange’s (ICE) much-awaited crypto platform published a list of eight evidently new vacancies at the company, all of which are based in Atlanta and New York City. Some of the positions also have Hong Kong, Tokyo, San Francisco, London, Tel Aviv and Singapore listed as available locations. The page specifies that the company is mostly trying to…

NYSE Operator’s Crypto Platform Bakkt Completes $182.5 Million Funding Round

Digital assets platform Bakkt — created by the operator of the New York Stock Exchange (NYSE) — has announced the completion of its first funding round in a blog post today, Dec. 31. The institutional investor-focused cryptocurrency platform from the Intercontinental Exchange (ICE) has officially raised $182.5 million from 12 partners and investors, according to the post. The partners and investors reportedly include major names in both traditional finance and crypto-oriented investing, including ICE, Boston Consulting Group, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Microsoft’s venture capital arm and…